Why did Fannie Mae develop a separate Refi Plus Pricing Matrix?
Due to the expanded LTV, CLTV, and other specific eligibility criteria, as well as the MI coverage flexibilities outlined in Announcement 09-04, creating a separate matrix for loans delivered pursuant to the terms of the Announcement provides the most clarity. Besides containing only the LLPA tables that are relevant under the Announcement terms, we also show LLPAs at higher LTVs and CLTVs that are not accommodated on the standard LLPA matrix. Finally, the Refi Plus Pricing Matrix introduces some reductions to the “LLPA by Credit Score/ LTV” grid to better align with the MI flexibilities permitted for higher-LTV loans under Refi Plus.
